Chengalpattu: Two persons, including a woman, were arrested for fraud of Rs 5 crore by deceiving many people by showing greed that they can earn 5 to 10 lakhs daily by investing in the private stock market.
Sivasankari (age 32) is a resident of 7th Street, Railway Nagar, Chengalpattu district. He filed a fraud complaint with the Assistant Commissioner of Central Crime Branch at Tambaram Police Station on July 23. Kamakshi and Karthikeyan lived with his family in the opposite house of Sivasankari’s house.
In June 2021, Kamatchi, her husband Karthikeyan, younger brother Bhadrakalimuthu, father-in-law Jaganathan, mother-in-law Maheshwari, family friend Vigneswaran and his wife Bhuvaneswari said that they invested in the stock markets and earned a profit of Rs.5 lakh to Rs.10 lakh daily. My husband and I asked me and my husband for money saying that if we invest money in the stock market through them, we will get a lot of profit.
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Initially we denied this. Subsequently, Kamakshi and her husband Karthikeyan, together with all the above persons, frequently visited my house and spoke in person. As my husband and I believed that they were earning Rs.5 lakhs to 10 lakhs profit daily through the stock market, they sent me messages related to the advertisements through WhatsApp and made us believe.
They said that the advance money we invest (CAPITAL MONEY) is 100 percent safe and if you want to get the advance money back, just tell us a month in advance and they will give you 10 percent profit. As the Kamakshi family lived opposite my house, they told me to deposit the investment money into the bank account of Kamakshi and his family, so my husband and I completely believed their words.
Subsequently, on August 7 last year, Sivasankari sent a total of Rs 16,50,000 from her husband’s monthly salary savings, her father-in-law’s savings and money borrowed from friends in three installments from Sivasankari’s bank account to Kamatshi and Vigneswaran’s bank accounts.
After investing Rs 16,50,000 in the stock market, they said that they paid only Rs 50,000 as incentive for one month.
After that, no money was paid in the following months, when asked why (Income tax problem), it is said that the time was delayed by giving the reason of income tax department problem. As the Sivasankari family got a bit suspicious about the Kamatshi and Vigneswaran family, they demanded the return of the advance payment of Rs 16,50,000.
Bounce Bank Cheques
The Kamakshi family said that they have no problem in returning the money and gave a document and a check in the name of Ikot Maharajan saying that they will return the money. Sivasankari Kamakshi and Vigneswaran had paid into the bank account and the check was drawn in the name of an unrelated person, Ikot Maharajan, and suspicion has arisen. I gave the money to you, I don’t know who Ikot Maharajan is and I have nothing to do with him, they told me that Ikot Maharajan is our business partner.
When the check was deposited into the Shivashankari bank account, it returned as insufficient funds. When Kamakshi and Vigneswaran’s family were contacted, they said that there was a problem in the business and they hung up saying that they would return the check after giving the money.
When I contacted her again on her cell phone she did not pick up the call. They never come home. The house was permanently locked. Many people started coming home looking for them. On questioning them, Sivasankari came to know that Kamakshi and the above persons had cheated many people like Sivasankari by saying that they were trading in the stock market and had swindled many crores of money.
It is said that all the crores of money received as investment by lying about stock market trading were deposited in the name of Kamatshi and their family members and Wigneswaran and his wife Bhuvaneswari in International Finance Service and some other companies operating in Kanchipuram Pookadai Chatra. Also, it has now been revealed that they are deceiving many people like Shivashankari by buying and keeping properties in their names in their names, luxury cars and gold jewellery.
5 Crore Stock Market Trading Fraud
Kamakshi, Karthikeyan, Vigneswaran have cheated many people by telling many false things to make them believe that they are trading in the stock market and have cheated them out of around 5 crores. Acting as accomplices to them, Ikot Maharajan, Bhadrakalimuthu, Bhuvaneshwari, Maheshwari, Jaganathan, have been registered under sections 403, 406, 420, 465, 34 by the Central Crime Branch of Tambaram Police Station.
Meanwhile, the Central Crime Branch police have arrested Kamatshi and Vigneswaran and are investigating. And the Central Crime Branch police are searching for those who are absconding.